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The Indian billionaire helping PM Modi take on Amazon, Walmart

In his previous avatars, Nandan Nilekani helped the government develop the Aadhar biometric ID system, roughly a digital equivalent of the US social security program.
Nilekani also helped introduce a payments backbone called the United Payment Interface, or UPI.(Reuters file photo)
Nilekani also helped introduce a payments backbone called the United Payment Interface, or UPI.(Reuters file photo)
Updated on Apr 28, 2022 03:45 PM IST
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Bloomberg |

India e-commerce rules cast cloud over Amazon, Walmart and local rivals

The rules are the latest in a growing confrontation between US tech giants and New Delhi over a host of policy-related issues which are seen by some as protectionist.
The companies have until July 6 to respond to the proposals, after which time they may be reviewed further or implemented.(Reuters File Photo)
The companies have until July 6 to respond to the proposals, after which time they may be reviewed further or implemented.(Reuters File Photo)
Published on Jun 23, 2021 12:22 PM IST
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Reuters |

Walmart opens marketplace to non-US vendors in shift

This month, the world’s largest retailer began opening up its third-party marketplace to foreign sellers, who no longer need a US address or business tax identification.
Walmart shares rose 1% to $131.31 at 10:54 a.m. on Friday in New York. The stock fell almost 10% this year through Thursday’s close.(Bloomberg file photo)
Walmart shares rose 1% to $131.31 at 10:54 a.m. on Friday in New York. The stock fell almost 10% this year through Thursday’s close.(Bloomberg file photo)
Published on Mar 19, 2021 10:24 PM IST
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Bloomberg | | Posted by Harshit Sabarwal

Walmart sales surge, but profit takes a hit

The nation's largest retailer also Thursday that sales at stores opened at least a year rose 8.6% for the period ended Jan. 31, compared with 6.4% in the previous quarter.
The parking lot of a Walmart Store on Coit Road empties as a second winter storm brought more snow and continued freezing temperatures to North Texas on Tuesday night, Feb. 16, 2021, in Plano, Texas. Walmart announced on Tuesday the chain would be closing 415 stores in Texas due to the weather. (Smiley N. Pool/The Dallas Morning News via AP)(AP)
The parking lot of a Walmart Store on Coit Road empties as a second winter storm brought more snow and continued freezing temperatures to North Texas on Tuesday night, Feb. 16, 2021, in Plano, Texas. Walmart announced on Tuesday the chain would be closing 415 stores in Texas due to the weather. (Smiley N. Pool/The Dallas Morning News via AP)(AP)
Published on Feb 18, 2021 06:16 PM IST
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AP | , New York
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